The financial position of the UK's news industry

The financial position of the UK's news industry

"Reports of the demise of the UK news industry are premature."

The newspapers industry makes money by placing ads on their content. In exchange, the company they advertise pays the newspapers money. Newspapers can also get money by charging for their newspapers, and not making them free; essentially like a subscription, you have to pay to get the content. 

News institutions - 3 areas of activity

Production: How the product is made. The big change here is that the 'news' content is multi-media, online and constantly updated. The way the news is produced is substantially different too - on the plus side the internet makes reporters more efficient.

Distribution / Exchange: How institutions get their produce to audiences. Today, news is multi-platform: smartphones, tablets etc as well as in print. On the plus side, printing fewer papers cuts the cost of printing presses, delivery vans, paper etc - on the minus side, fewer barriers to production means more completion.

Marketing: The way institutions tell audiences about their product and encourage them to buy it. A big change is the level of integration with social networks, advertising, sponsorship. Facebook is a massive distribution driver with most newsbrands seeing it as the most important ways of marketing their product.

Ownership

Media barons: Wealthy individuals who own the paper, or a group of papers.

Trusts: A legal arrangement where finances from the owner are transferred to trustees to manage the control and running of the newspapers, usually without editorial input.

Cross media conglomerates: Huge global institutions who own numerous media outlets. These may be owned by individuals or groups.

The role of the editor

● The information that is submitted to newspapers must be sifted.
● Editors not only select, but omit stories based on what will appeal to their audiences.
● Editors can practice "protective coverage" which is the withholding of information on the grounds it would be harmful to powerful people or the public, or impede a criminal investigation taking place.
● It is important to talk about this role in exam questions about ownership as the editor is appointed by the owners and the board, and thus, will also have the same viewpoints as the owners.


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